Hannah's Bakery sells blueberry cheesecakes in a perfectly competitive market. The market price per cheesecake is $10 . At the current level of production of 500 cheesecakes per month, the marginal cost of production is $10 per cheesecake. In this scenario, Hannah is likely to:
a. decrease the production of cheesecakes but stay open.
b. increase the production of cheesecakes
c. continue producing the same level of cheesecakes.
d. shut down the bakery.
c
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Using the table above, the labor force participation rate is
A) 83.3 percent. B) 90.0 percent. C) 10.0 percent. D) 11.1 percent. E) 100 percent.
A country can control
A) its flexible exchange rate. B) monetary policy oriented toward domestic goals. C) international capital movements. D) foreign inflationary policies. E) and avoid risks in international trade.
The type of currency in circulation in the modern U.S. economy is almost entirely
a. commodity money. b. metallic money. c. fiat money. d. silver certificates.
(Table: Comparative Advantage I) Look at the table Comparative Advantage I. Finland has a comparative advantage in producing:
A) both cell phones and herring. B) cell phones only. C) neither cell phones nor herring. D) herring only.